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Terms of Use

(i) That the Consumer acknowledges entering into a lawful broker-consumer relationship with the
Member.

(ii) That all Listing Information obtained by the Consumer from the VOW is intended only for the
Consumer’s personal, non-commercial use.

(iii) That the Consumer has a bona fide interest in the purchase, sale, or lease of real estate of the type
being offered through the VOW.

(iv) That the Consumer will not copy, redistribute, retransmit, or otherwise use any of the data or Listing
Information provided, except in connection with the Consumer’s consideration of the purchase or sale of
an individual property.

(v) That the Consumer will not, directly or indirectly, display, post, disseminate, distribute, publish,
broadcast, transfer, sell or sublicense any Listing Information to another individual or entity. The
prohibited uses expressly include “scraping” (including “screen scraping” and “database scraping”), “data
mining” or any other activity intended to collect, store, re-organize, summarize or manipulate any Listing
Information or any related data.

(vi) That the Consumer acknowledges TREB’s ownership of, and the validity of TREB’s proprietary
rights and copyright in, the MLS® database, TREB’s MLS® System, Listing Information and any related
information.

Seller Tips

Selling a home isn't something to leave up to chance. Without a REALTOR®, this major transaction could quickly become one of your largest regrets. Realtors are experts at the following:

Maximizing your advertising budget to get top dollar for your property

Deciding the best time to sell your home

Understanding and catering to the buyer’s market

Seller's market – when there are many people looking for homes, but there are not many available on the market

Buyer's market – when there are many homes for sale, but not many people are buying them

The time of year can also affect how quickly you can sell and buy a property

Determining the best price-to-speed ratio for selling your home

Understanding the seasons

winter sales tend to be slower, spring sales are tend to be quicker

If you sell your home at a low price, you’re probably buying at a low price; if you are moving to a larger home, this is advantageous

If you are downsizing from a bigger home to a smaller space, a realtor can assist by determining the market and when is the best time for a transaction

Buy first or sell first?

Many people are able to time their sale and purchase so they happen on the same "closing date."

Sometimes you can time your current home's sale with the future home's purchase

Can make the sale of your home "conditional"

Can try to extend the "closing period" to have more time to find your next home

Smart to enlist a REALTOR® for professional services, just like you would hire a mechanic or dentist

If you find the perfect new home before you sell your current home, you can talk to your mortgage lender about “bridge financing.” This is when your loan company agrees to lend you the down payment for your new property while you are still paying for the mortgage on your current home.

Be financial ready

Be ready to work with the large amount of money involved in your real estate transaction.

Still have a large mortgage? Consider the following:

“Discharge” your mortgage – use money from your current home’s sale to pay off the mortgage you owe.

With an “open” mortgage, you can pay the full amount outstanding without penalties.

With a “closed” mortgage, a penalty will likely apply and depends on some factors including the remaining term of the mortgage

Is your mortgage portable?

A “portable” mortgage means you transfer your current mortgage arrangement to your new home without penalty.

This is advantageous if the interest on your mortgage is lower than existing rates. However, if your new home is more expensive and requires a larger mortgage, you will have to borrow the extra money at current market rates.

Perhaps your mortgage permits the buyer of your home to “assume” your mortgage. This is an attractive selling feature if the interest rate is lower than existing rates.

You could also become a mortgage lender. If the buyer is having trouble arranging their financing, you may consider lending directly to them. This plan is called a “vendor take back” mortgage. It’s often used to move a property in a slow market and it is incredibly complicated to set up. Be sure to consult your lawyer before choosing this option.

If you find the perfect new home before you sell your current home, you can talk to your mortgage lender about “bridge financing.” This is when your loan company agrees to lend you the down payment for your new property while you are still paying for the mortgage on your current home.

Capital Gains Tax

Capital gain refers to how a property increases in value over time due to the housing market.

If the home was your primary residence, you will not have to pay taxes on any capital gain.

However, if you had tenants living in part of your home such as a basement apartment, a capital gains tax will apply to a portion of this income.

The capital gains tax would also apply to a secondary property such as a vacation or investment property.

Seek professional assistance for help in this area. Be aware that GST/HST taxes will apply to hiring a consultant for their services.

Finding the right realtor

We’ve been outlining the many ways a realtor is essential when negotiating a property sale.

How to choose the best one? Shop around, talk to a few, get quotes for their services, and analyze how comfortable you are in trusting him/her with your real estate negotiation.

You can go back to a realtor you’ve used before.

You can choose a local contact by writing down names and numbers from “for sale” signs.

Ask for referrals from family and friends.

Visit a local real estate office

Interview candidates. Don’t be afraid to ask questions. It’s important to find the right partner for one of the biggest transactions of your life.

Determine your home’s selling price

Asking the right price attracts many potential buyers who may compete with multiple offers to consider. This gets you the maximum return for your home.

A realtor can help you set the right price.

Setting a price too low means you lose money in the transaction

Setting a price too high means buyers will not consider making an offer which could leave your house on the market for too long

When you lower the price, people assume you are under pressure to sell, and lower their offers even further.

A realtor knows and considers the ever-changing factors involved with home buying.

Larger families could be looking for more room

A new large business is setting up shop nearby

Interest rates may be at an attractive rate

REALTORS® can determine your home’s value in the current housing market

They do extensive research

They use a real estate board’s MLS system to compare your home to similar homes

They help you be prepared for the interest and activity that happens when your home goes up for sale

Sign a listing agreement

This is a legal agreement for your realtor to represent you and the transact the sale of your home on your behalf

It defines your relationship with your relator and the extent of his/her authority

It provides detailed information about your home

It forms the basis for drafting offers on your home

Highlights of the Listing Agreement

Authority – the legal relationship between you and your realtor and the time limit in which to sell your home

Exclusive listing – means only your realtor can find a buyer for your home

Multiple listing – allows your home to be placed on a MLS system on the internet

Price – you have the final say, but consider your realtor’s advice carefully

Determine your home’s asking price

Real estate commission

Could be a flat fee or a percentage of the final sale price

Is the agreed compensation between you and your broker

Includes an itemized description of your property

Dwelling’s age

Construction style

Number and size of rooms

Other selling features (newly renovated kitchen)

legal information (lot number, land survey, zoning code, etc.)

Financial information

Minimum deposit required

Low-interest rate mortgage that can be assume

Completion date – how long you need to move out once the house is sold

How your home will be shown – your realtor can make the viewing appointments on your behalf. Be sure to add specific instructions for these visits as needed.

Not always included, but can be a part of the deal at the seller’s discretion

Fixtures – permanent improvements like central air conditioning, upgraded lighting, wall-to-wall carpets. Fixtures are assume to be included with the house unless the seller makes a note otherwise.

Prepare your home for sale

Attack the chores list. By presenting your home at its best, you can attract big offers.

Let your realtor point out things you may not notice and which may detract from your home.
Be sure to address all the little imperfections that could give a potential buyer a reason to walk away. Print out a copy of our Is
Your Home Ready? – a checklist for a thorough tour of your home.

Cleaning is the most cost effective way to attract buyers. Sparkling floors, windows, walls, doors, and baseboards go a long way to impress visitors.

Be extra tidy in bathrooms and the kitchen. Once it’s clean, keep it clean. Be prepared for the last minute visitors.

Repair as much as you can. Leaky faucets, ceiling cracks, and torn screens detract from your home’s value.

Depersonalize your home

Take away your personal memorabilia:

Family portraits

Trophies

Posters

Anything that is too much about you

Removing your influence makes it easier for buyers to envision themselves living in this space.

Neutralize strong colours and wild wallpaper. Painting your home in neutral colours will enhance a room’s size and make it look more inviting. Besides cleaning, painting is the next most cost-effective way to increase your home’s appeal.

Add some beautifying touches

You don’t have to spend a fortune, but consider affordable touches:

Replace old, tattered curtains

Replace focal pictures with mirrors for a more spacious feel

New houseplants are attractive

Trim and prune your outside space

Plant new flowers

Don’t get carried away, though. Ask whether your improvement project will make your home more desirable and whether the improvement costs will increase its value.

Let your realtor market your home

They are experts

They have a variety of tools and methods to showcase your property to potential buyers

The “For Sale” sign

This sign continues to be one of the most effective ways to advertise your home for sale.

Traditional media

Your realtor may choose a variety of the following:

Newspaper classified ads

Ads in real estate publications

Property listings on cable TV

Neighborhood mailers

The power of the internet

If you decide to list your home on an MLS system, you can also advertise it on
www.realtor.ca – Canada’s most popular research tool for residential real estate.

Over 85% of Canadians start their home search on the internet.

Realtors are also expert networkers and are part of an extensive community of professionals helping sellers and buyers to connect.

Have an open house for realtors

This is an efficient way to attract realtors to see your home and keep it in mind for their potential buyers.

Have an open house for everybody

Many buyers want to get a feel for the neighborhood before they commit to working with a realtor. Open houses for the public allow passersby to visit your house and decide if it’s a potential space for their next home.

Lock away valuables

Most people are honest and courteous, but don’t invite temptation. Lock away jewelry, cameras, and other small valuables. You can also ask your realtor to record each visitor’s name and phone number for added security.

Attend to any hazards

Look for trip hazards, broken equipment or furniture. Avoid cooking foods with strong aromas. Nobody wants a house with odours.

The best way to help:

Don’t be there; people can’t envision living in your space if you are present

Use a “lock box” so that your realtor has access to your home. A "lock box" is a small, secure box that's affixed to your front doorknob. It's a mini safe with a key to your house inside.

Be patient. Hopefully, you will get the great offer soon.

Add a lawyer to your team

s/he can handle the legal documents involved

shop around for someone with experience

ask about their fees

get an estimate of the legal costs involved

You may already have an estate lawyer

The most logical candidate is the lawyer you hired when you bought your home. S/he is already familiar with the property and could easily draft the required documents.

Other ways to find a lawyer

Ask people you trust for recommendations – friends, family, business associates.

REALTORS® can give you the names of several lawyers so you know your home will be in the right hands.

Your lawyer should help you review important documents you have to sign and answer any of your questions about these papers. Know exactly to what you are agreeing.

Receive an offer

You’ve been working hard towards this point. Now you get to see how much your efforts are paying off.

Your realtor can walk you through the process

Your realtor will present every offer that is submitted for your review. The buyer’s realtor may be present, too. However, the buyer will probably not be there, so you can review and respond to the offer without any awkward pressure. Stay calm, whether good or bad, and stay focused on what you want to do next.

Discuss the offer

You may ask your realtor for advice regarding the offer. Maybe it’s time to celebrate, or it could be time to plan a counter offer. If your partner and family are involved, you can request private time to discuss matters. At this point, you have three options:

Accept the offer – sold!

Reject the offer

“Sign back” the offer – negotiate some more

Reasons why you want to “sign back”

You want more money that what was offered

You want a different closing date

There are other details with which you’re not satisfied

See above

Points of Contention:

Buyer to obtain financing – this means the buyer doesn’t have a mortgage in place yet

Approval to assume mortgage – you have a great mortgage rate and the buyer want to take over these payments

Sale of purchaser’s home – they are still trying to sell their home and don’t want to pay for two homes at the same time

Property inspection – this is becoming standard industry practice, so to refuse this condition could ruin the sale of your home.

Close the sale

Before your house is truly sold, your realtor and lawyer have to help you through the final steps known as the “closing.”

This is where your realtor and lawyer take care of the time-consuming and complicated legal work.

Canada's money laundering reporting requirements

By the time you accept an offer, your REALTOR® will also advise you of reporting requirements by FINTRAC, the federal agency responsible for administering Canada's Money Laundering and Terrorist Financing legislation and regulations.
Your REALTOR® is required by federal law to complete a client identification form, and must ask you as the vendor or seller for verified ID such as a driver's license or passport. You can find out more on the FINTRAC web site at http://www.fintrac-canafe.gc.ca.

Your closing checklist:

Advise your lawyer that an agreement has been signed; make sure your lawyer is ready to close the transaction

Immediately start satisfying any conditions of the agreement that require action on your part

If you plan to pay off your mortgage with proceeds of the sale, your lawyer will obtain a statement from your lender showing your outstanding mortgage balance and any penalties owing to discharge the mortgage

Before closing, your lawyer will help you sign over the title of your property to the buyer.

On closing day, your lawyer will receive and distribute the proceeds from the sale, pay off your mortgage and other costs, and give you a cheque for the net proceeds.

Q: What's the difference between a real estate agent and a REALTOR®?

"REALTOR®" and "real estate agent" are not interchangeable, although some real estate agents might like them to be. The term REALTOR® is a registered certification mark that identifies the quality of services rendered by licensed real estate agents who are members of The Canadian Real Estate Association (CREA). All real estate agents are not REALTORS®, but all REALTOR® members are real estate agents.
Read More

Q: How do I figure out what mortgage I can afford?

Determining the mortgage you can carry is based on a relatively simple calculation of loan amount, down payment, interest rate and amortization period. A good rule of thumb when figuring your monthly housing cost is that it should not exceed 32% of your gross monthly family income or 40% of your gross monthly income.
Read More

Q: What questions should I ask when looking for a REALTOR®?

Here are 10 smart questions to ask. But remember, this is just a starting point. Your REALTOR® should be willing to answer any questions you have. After all, that's why you hire the pros.
How long have you been in the business?
What is your average list-to-sales-price ratio?
How will your marketing plan meet my needs?
Will you provide references?
What separates you from your competition?
Read More

Q: Why should I hire a REALTOR®?

You're trusting a REALTOR® with your most valuable possession, your home. REALTORS® take this responsibility very seriously. Here's what we promise you:
1. Your REALTOR® is a trained professional REALTORS® take extensive pre-licensing courses in order to obtain credentials for practicing in real estate.
Read More

Q: What should I expect when I enlist the help of a REALTOR® to sell my house?

REALTORS® help you get the most for your home and they remove stress and confusion from the process. Here are just some of the advantages.
Your REALTOR® becomes your home's champion When you sign a "Listing Agreement" with your REALTOR®, this is their promise that he or she will use all their skills and resources to get the most for your home.
Read More

Q: Do I really need a REALTOR® to sell my home?

Many people who try to sell their own home end up using a REALTOR® in the end anyway. Before anybody decides to fly solo through this complex, time consuming and financially perilous process, they should consider these questions.
Will you really "save" the real estate commission?
When buyers see a home for sale 'by the owner', they see a bargain. They imagine the REALTOR®'s fee going into their pocket, not yours.
Read More

Mississauga

Toronto

Vaughan

Selling a home isn't something to leave up to chance. Without a REALTOR®, one of the largest transactions of your life could quickly become one of your largest regrets. There are several things to consider: Is now a good time to sell? What's the best way to get the word out? How do you get top dollar for your property? These are just some of the questions a REALTOR® can help answer to ensure you're 100% happy throughout the entire process.

Decide when to sell
In real estate, timing influences your home's selling price. Working with a REALTOR® can help make timing work for you.

A buyer's versus a seller's market?

When lots of people are looking for homes but not many are for sale, it's a 'seller's market', because the seller has something everybody wants. When there are lots of homes for sale and not many people buying them, it's called a 'buyer's market' because buyers have more power of choice.

How quickly do you need to sell your home?

In a seller's market, top price and a fast sale can go hand-in-hand. In a buyer's market, more sellers are competing for your potential buyer. If you have to sell right now, consider lowering your asking price a bit to speed up the sale. A REALTOR® can help you figure out the right price-to-speed ratio.

Seasonality. Do home sales get frostbite?

It's true. Winter sales tend to be slower, and spring sales are more brisk. Regardless, there are always people looking to buy, and seasonality is only one of many factors to consider.

What if you're also buying a home?

If you sell your existing home for a 'low' price, you're probably also buying at a low price. If you are upgrading to a larger home, this actually works to your advantage. If you're downsizing from a bigger home to a smaller home or a condo, you need to pay a bit more attention to the market.

To buy first or sell first? The eternal question

Many people are able to time their sale and purchase so they happen on the same "closing date". As a buyer, you can make your offer "conditional" on the sale of your existing home to make sure you're not left paying for two homes. As a seller, you can try to extend the "closing period" to give yourself more time to find your next home. A REALTOR® can provide advice and counsel during these kind of negotiations.

What if you find your new dream home before you've started to sell your old one?

Talk to your existing mortgage lender about "Bridge Financing". This is when your lender (the bank) agrees to lend you the down payment for your new dream home, while you still cover the mortgage on your existing property.

Prepare your finances
Before the offers start rolling in, you should prepare for the massive amounts of money that will pass through your hands.

Still have a way to go paying off your mortgage? Here are some things to consider.

"Discharging" your mortgage

Many people use the proceeds from the sale of their home to "discharge" or pay off their mortgage. If you have what is known as an "open" mortgage, you can pay it all off without any penalties. If you have a "closed" mortgage, be prepared to pay a penalty. The penalty amount will depend on a number of factors, including how much time is left on the term of the mortgage.

If you're buying a new home, is your mortgage "portable"?

A "portable" mortgage means you can take your mortgage money with you and buy a new home, without penalty. This can be a real bonus if the interest rate on your mortgage is lower than existing rates! If your new home is more expensive, and requires more mortgage, you'll have to borrow the extra money at the current market rate.

Maybe the buyer is "assuming" your mortgage

Your mortgage may have a feature that allows the new buyer to take over your mortgage. If the interest rate is lower than existing rates, this can be a very enticing selling feature for your home.

Become a mortgage lender yourself?

If your buyer is having trouble arranging all the money to buy your property, you may consider lending directly to them. This is called a "Vendor Take Back" mortgage, and it's often used by sellers to help move a property in a slower market. This is an incredibly complicated financial dealing, and you must talk with your REALTOR®, financial advisor, and lawyer before choosing this route.
If you find your new dream home before you've started to sell your old one, talk to your existing mortgage lender. You may be able to arrange "Bridge Financing". This is when your lender (the bank) is confident your existing home will sell quickly, and they agree to lend you the down payment for your new dream home.

If you find your new dream home before you've started to sell your old one

Talk to your existing mortgage lender. You may be able to arrange "Bridge Financing". This is when your lender (the bank) is confident your existing home will sell quickly, and they agree to lend you the down payment for your new dream home.

Capital gains tax

If the home was your primary residence, you will not have to pay taxes on any capital gain (the increase in the value of your home). If you had tenants living in part of your home, such as the basement, you will pay capital gains tax on a portion of your profits. You may also owe capital gains tax if you're selling a vacation or investment property. Talk with an accountant to find out what you'll have to pay.

GST for professional services

Your lawyer and REALTOR® are providing services that are subject to GST/HST.

Find a REALTOR® who is right for you
There are many reasons why a REALTOR® is essential when selling your home, but which REALTOR® is best for you?
Don't simply go with the first REALTOR® who suggests the highest asking price. Ask around, talk to a few, and you'll soon find the one that's right for you.

The REALTOR® who helped you buy your current house is a good start

Sticking with a REALTOR® you know just makes sense. If your REALTOR® did a good job helping you buy your home, he or she is probably a good candidate for helping you sell it.

Think locally

Jot down the names and numbers of REALTORS® on "For Sale" signs.

Ask your local friends or nearby family to recommend a REALTOR®.

Visit one of the local real estate offices who know your area.

Interviewing candidates

Don't be afraid to ask questions. Finding the right REALTOR® is about a partnership  so screen a few before deciding. Make sure you feel comfortable with him or her and that they show a genuine interest in helping you.

Chances are, if you've lived in your home for more than a few years, you can likely turn a tidy profit. That's great news. But sealing the deal requires more than just a handshake. You'll have to consider if now's a good time to sell? What's the best way to get the word out? How do you get top dollar for your property? These are just some of the questions that a REALTOR® can help answer.

Determine your home's asking price
Lots of people out there want to buy your home. The right asking price will attract attention and get you maximum return. With the help of a REALTOR® you can set a fair market value on your home to get the most out of interested buyers.

You don't want to set your price too low or too high

Setting too low a price means you could miss out on thousands of dollars that some buyer would have paid. Setting too high a price can scare away willing buyers and leave your home on the market for too long. When you lower the price, people may assume you are under pressure to sell, and lower their offers even further. REALTORS® know the general factors affecting your market, so work with them to get a price that's right for you.

REALTORS® know the general factors affecting your market

Maybe larger families are moving into your neighbourhood. That makes homes with three plus bedrooms and large yards more appealing. Perhaps a large employer is opening a plant nearby, which will increase demand for housing in general. How are interest rates affecting people's willingness to take out big mortgages? You can ask your REALTOR® these questions and, more importantly, how he or she can affect the price of your home.

REALTORS® can calculate your home's value within your market

Using the extensive background information available to REALTORS® through a real estate Board's MLS® System, they can compare your home to a collection of similar homes that have recently been sold in your area. No two homes are the same, but REALTORS® are very good at adjusting their calculations according to the differences.

Yes, first impressions matter

It's nearly impossible to replace the initial flurry of interest and activity a new listing will generate. REALTORS® in your area will want to see your home right away and tell their buyers all about it. Be sure you're priced and poised to capitalize on this first wave of excitement.

It defines your relationship, including the limits of your REALTOR®'s authority.

It provides detailed information about your home which can be placed on a real estate Board's MLS® System to help potential buyers find you.

It forms the basis for drafting offers on your home.

Highlights of the Listing Agreement

Authority

This describes the legal relationship between you and the real estate brokerage, and sets a time limit for the REALTOR® to sell your home.

Exclusive or Multiple Listing Service®?

"Exclusive Listing" means that only your brokerage can find a buyer for your home. REALTORS® generally recommend a "Multiple Listing", which allows them to put your home on a real estate Board's MLS® System - a great tool to market your home and help find a buyer.

Price

You have the final say over this magic number, but your REALTOR® will have very useful advice on what price will attract buyers. Learn more about choosing the right asking price in Step 4: Determine your home's asking price

Real estate commission

This may be a flat fee or a percentage of the final sale price. The compensation is agreed upon between you and the individual brokerage.

A physical description of your property

Your REALTOR® will itemize the lot size, your home's age, the style of construction, number and size of the rooms, and any outstanding selling features such as "backs onto ravine" or "fabulous kitchen renovation".

Legal information

This includes the lot number, land surveys and the zoning code.

Financial information

Let people know the numbers like the minimum deposit you require or if you have a low-interest rate mortgage that can be assumed.

Completion date

This lets everybody know how long you need to move out once your home is sold. 60 or 90 days is typical, but if you can be flexible this may help sell your home faster.

How the home will be shown

Your REALTOR® can make the arrangements for viewing appointments. Any specific instructions, such as "make sure the cat stays in" can also be noted.

What exactly is included in the price? Chattels and fixtures

Chattels are moveable items like washers and dryers, microwaves and window blinds. They're not automatically included in the sale, but sellers will often include them to sweeten the deal.

Fixtures are permanent improvements to a property like central air conditioning, installed lighting and wall-to-wall carpeting. Fixtures are assumed to be included in the sale of the home unless you note otherwise. Maybe the dining room chandelier is family heirloom that you wish to take with you. The line between chattel and fixture can get blurry, so go over every item with your REALTOR® to make sure you have no regrets when it comes time to sell your home and everything that comes with it.

Chances are, if you've lived in your home for more than a few years, you can likely turn a tidy profit. That's great news. But sealing the deal requires more than just a handshake. You'll have to consider if now's a good time to sell? What's the best way to get the word out? How do you get top dollar for your property? These are just some of the questions that a REALTOR® can help answer.

Prepare your home for sale

Break out the mop and the paintbrush. It's time to give your home a mini-makeover. Here are all the little things you can do to attract the big offers.

You've lived in your home for a while now; use your REALTOR®'s fresh set of eyes to your advantage

Now's the time to address your home's little imperfections: the hole in the screen door, the chipped paint on the baseboards, and the mess in the basement. Print out a copy of our Is Your Home Ready? A Checklist and take a thorough tour of your home.

Get rid of clutter

Your house will feel a lot bigger and more inviting when you clear out those closets, remove bulky, unused furniture and rearrange the remaining pieces to make the best use of space. If you haven't used something in the past year, toss it, donate it to charity or sell it.

Clean everything

Cleaning is the single most cost effective way to make your home more attractive to buyers. Floors, windows, walls, doors, baseboards - everything! Give extra care and attention to the bathrooms and kitchen. And once it's all clean, keep it clean! You never know when your ideal buyer will visit.

Repair as much as you can, within reason

Some repairs are absolutely vital, like a leaky roof or basement and unsafe electrical problems. Otherwise, fix all the little things like leaky faucets, doors that squeak, and small cracks in the ceiling.

Depersonalize your home

You want buyers to walk through your house and feel like it's their home, not yours! Things like a cluttered wall of family portraits or your trophy collection are guaranteed to prevent buyers from emotionally placing themselves in your home. Remove everything that's too much about you.

Never underestimate the power of paint

Strong colours on the walls or wild wallpaper make it hard for buyers to imagine their furniture in your house. Consider repainting your home in bright, neutral colours that will enhance a room's size and look more inviting. Next to cleaning your home, paint is the most cost-effective way to increase your home's appeal.

Add some beautifying touches

You don't need to spend a fortune to make a big difference. Replace tattered old curtains with some fresh draperies. Mirrors on the wall help rooms feel more spacious. New houseplants add undeniable appeal. And on the outside of your home trim the trees, weed the garden and consider planting a few new flowers to make a great first impression.
Don't get so carried away with prepping your home that you forget why you're doing this - to get more money! You need to consider two things before making any improvements.

Will this make my home more desirable to buyers?

Will this increase the value of my home more than it costs me to do it?

Your REALTOR® may also be able to offer useful tips and advice when it comes to prepping homes so you can get the most out yours when it comes time to sell.

Let your REALTOR®? market your home
It's time for your REALTOR® to do their thing with a few old-fashioned, and some new-fashioned, marketing tools.

The "For Sale" Sign

Despite our leaps in technology, the "For Sale" sign continues to be an extremely effective way to advertise. Anybody responding to your sign is a solid lead because they've seen your home with their own eyes.

Traditional media

Your REALTOR® may choose any or all of the following: classified ads in the newspaper (often with a photo), ads in real estate publications, property listings on cable television and good old-fashioned mail. Neighbourhood mailers can be incredibly effective.

The power of the Internet

If you decide to have your home listed on a real estate Board's MLS® System, you can also have your home advertised on www.REALTOR.ca, Canada's most popular Internet research tool for residential real estate, and a big reason why over 85% of Canadians who search for a home start their search on the Internet.

REALTORS® really know how to network

Your REALTOR® is part of an extensive community of REALTORS® who collectively represent hundreds of eager buyers. REALTORS® can call other REALTORS®, who can call other REALTORS®, who can call other REALTORS®.

Ultimately, your home itself becomes a selling tool

Start with an open house for REALTORS®

A REALTOR® Open House is an efficient way to attract REALTORS® to see your home with their own eyes. If your home is perfect for one of their buyers, you can be sure they'll rush right out and tell them! Your REALTOR® can organize everything and get the buzz started.

Next, an "Open House" for everybody

Many buyers want to get a feel for your neighbourhood before they start working with a REALTOR®. That's why Open Houses to the public are so important. They usually last a few hours on a Saturday or Sunday, and there are a few simple but important rules to follow.

Make sure your home looks its finest

Your best buyer may just walk in off the street!

Lock away valuables

Most folks are decent, courteous and honest, but it's wise to stash away jewelry, cameras and other small valuables. You can ask your REALTOR® to request a name and phone number from every visitor for added security.

Attend to any hazards

Is there an electrical cord somebody could trip on? Is there a chair that will collapse if somebody actually sits in it? Fix it, or lose it.

Avoid cooking foods with strong aroma

Almost nobody's dream home smells like smoked herring!

The best way you can help: Don't be there

You want people to feel relaxed and daydream that your home is their home. This just isn't possible with you there. Go see a movie, or take your pets on a field trip.

A "lock box" makes it easier to show your home

A "lock box" is a small, secure box that's affixed to your front doorknob. It's a mini safe with a key to your house inside. REALTORS® are given a combination to the lock box, so they can show your home to interested buyers.

Be patient with visits. Hopefully they will lead to a great offer, soon.

Chances are, if you've lived in your home for more than a few years, you can likely turn a tidy profit. That's great news. But sealing the deal requires more than just a handshake. You'll have to consider if now's a good time to sell? What's the best way to get the word out? How do you get top dollar for your property? These are just some of the questions that a REALTOR® can help answer.

Add a lawyer to your team
When selling, it's essential to have a lawyer handle all the various legal documents that change hands. Before you agree to a lawyer, make sure he or she is experienced in real estate, ask how they structure their fees, and get an estimate of all the legal costs you can expect.

You've probably already worked with a real estate lawyer

The most logical candidate is the lawyer you hired when you bought your home. He or she is already familiar with the property and may have even prepared the purchase documents. If you were satisfied with their work and fees, look no further.

Other ways to find a lawyer

Ask the people you trust, like friends, family, or business associates if they know a lawyer with substantial real estate experience. REALTORS® can give you the names of several lawyers so you know your home will be in the right hands.

How your lawyer will help with the sale

Your lawyer will review important documents that require your signature. The most critical of these is the "offer" submitted by the buyer. You will be legally committed to anything you sign, so know exactly what you are agreeing to.

Receive an offer
All of your hard work has paid off, but you won't know exactly how much it's paid off until you see the offer. This is an exciting, often emotional time, so be prepared.

Your REALTOR® can walk you through the process

Your REALTOR® can walk you through the process and will present you every offer that's submitted. The buyer's REALTOR® may be there too. He or she represents the buyer's best interest in the negotiation. The buyer will likely not be there, so you can review and respond to their offer without any awkward pressure. Your eyes will be immediately drawn to the price! Here's where emotions can really kick in. This isn't a poker match, but remain calm. Your REALTOR® can provide advice before any judgments are made.

Discuss the offer

You may want to ask your REALTOR® for advice on the merits of the offer. Maybe it's time for a high-five, or maybe it's time to plan your counter offer. You may also wish some private time to discuss things with your partner.

Three options when responding to an offer

You can accept the offer

You got the price you were hoping for, maybe even more! The closing date looks good and there are no fussy conditions. Sold!

You can reject the offer

This offer isn't even close.

You can "sign back" the offer

This offer is close, but something's not quite right. Now the delicate art of negotiation begins, by "signing back".

Reasons why you may want to "sign back"

You want more money

This is by far the most common reason people "sign back". Everybody wants to get the most for their home, and as the saying goes "if you don't ask, you don't get". Go for it, but don't get too greedy and insult someone who has made a fair offer.

You want to change the closing date

Maybe your buyer wants to move in sooner than you'd like. Maybe you haven't even started looking for a new home! You can "sign back" a compromise closing date. Perhaps the buyer will compensate you for the inconvenience of living in a motel for a few weeks.

There may be some undesirable conditions on the offer

Conditions are points of contention that must be fulfilled in order for the sale to go through. Here are some common ones.

Buyer to obtain financing

If the buyer doesn't have a mortgage lined up, he or she will often put in this condition. The sale will only go through if the buyer can get the mortgage he or she wants.

Approval to assume mortgage

You have a great mortgage rate on the property and the buyer only wants your home if he or she can also take over your easy payments.

Sale of purchaser's home

The buyer hasn't sold their existing home yet and he or she wants to be protected from the expense of owning two properties. You might want to ask their REALTOR® about the other home and its odds of selling soon.

Property Inspection

This condition is becoming standard practice. Refusing a home inspection before sale is highly suspicious to a buyer, and may spoil the deal.

The art of counter-offers and negotiation

Successful negotiation is one that leaves both you and the buyer feeling satisfied with the outcome. This is a highly emotional time, so be sure to regularly "check your head," and ask yourself "How important is this particular detail to me? Am I willing to jeopardize a sale over this?" Remember once you "sign back" an offer, you are releasing the buyer from their offer and he or she is free to walk away. Your REALTOR® can help you every step of the way so you don't end up doing something you may regret later.

Close the sale
Your negotiations were a success. But before your house is truly sold, it's time for the vital final steps known as "closing". Your REALTOR® and lawyer will take care of the many complicated and time-consuming legal maneuvers. That's why you hired pros.

Canada's money laundering reporting requirements

By the time you accept an offer, your REALTOR® will also advise you of reporting requirements by FINTRAC, the federal agency responsible for administering Canada's Money Laundering and Terrorist Financing legislation and regulations.
Your REALTOR® is required by federal law to complete a client identification form, and must ask you as the vendor or seller for verified ID such as a driver's license or passport. You can find out more on the FINTRAC web site at http://www.fintrac-canafe.gc.ca.

You still have plenty to do. Your closing checklist should include:

Advise your lawyer that an Agreement has been signed. Make sure your lawyer is ready to close the transaction.

Immediately begin satisfying any conditions of the agreement that require action on your part before the set date of completion creeps up on you.

Notify your lawyer and lending institution if the buyer is assuming your mortgage.

Contact the utilities, telephone and cable companies about transferring or removing service. Your lawyer will often handle the transfer of utilities.

If you plan to "discharge" or pay off your mortgage with proceeds of the sale, your lawyer will obtain a statement from your lender showing your outstanding balance on the mortgage, and any penalties you'll have to pay to discharge the mortgage.

A few days before closing, your lawyer will ask you to sign the paperwork that enables the title to be transferred to the buyer.

On closing day, your lawyer will receive and distribute the proceeds from the sale, pay off your mortgage and other costs, and give you a cheque for the net proceeds.

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